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Diahuebs, 28 September 2023 AWEMainta INTERNATIONAL 37
Former President Donald Trump
Liable for Business Fraud, New York
IN a significant legal development, a
New York judge has ruled that former
President Donald Trump engaged in
fraudulent activities by consistently
misrepresenting his wealth by hundreds
of millions of dollars. This ruling is
part of a civil case brought against the
former president and his family busi-
ness, alleging that they defrauded
banks and insurance companies over
an extended period.
The judgment represents a notable
setback for Mr. Trump and could poten-
tially impede his business activities
within the state of New York. Notably,
Mr. Trump, along with the other defen-
dants in the case, has consistently area calculation as “absurd.” The Trump legal team’s request to
maintained their innocence, asserting dismiss the case was denied by the
that they never committed fraud. This ruling addresses the pivotal judge, who also imposed fines of
fraud claim made in the lawsuit, with $7,500 each on five Trump attorneys
New York Attorney General Letitia the trial now expected to focus on a for making arguments that had previ-
James led the accusations against narrower set of six remaining claims ously been rejected by the court. Judge
Donald Trump, his two adult sons, and and the potential penalty size. The trial Engoron characterized these argu-
the Trump Organization. The allega- is scheduled to commence on October ments as “preposterous” and cited
tions centered on inflating the value 2nd, with the Attorney General seeking their contribution to their clients’
of their properties by over $2 billion penalties of $250 million and a prohi- “obstreperous” conduct.
(£1.65 billion) to align with their busi- bition on Mr. Trump conducting busi-
ness interests. It was claimed that the ness in his home state. Legal representatives for Mr. Trump
defendants provided false records and Judge Engoron’s ruling categorically have denounced this ruling as “a
financial statements to secure advanta- states that the documents in ques- miscarriage of justice” and have indi-
geous loan terms, insurance arrange- tion contained fraudulent valuations, cated their intention to file an appeal.
ments, and reduced tax obligations. emphasizing that they were utilized Donald Trump himself has consistently
in business matters. He described the denied any wrongdoing, characterizing
Judge Arthur Engoron, presiding valuations as belonging to a “fantasy the case as another instance of polit-
in the New York state court, issued world” rather than reflecting reality. ical bias against him.
this scathing decision after Attorney
General James requested a summary In addition to his judgment, Judge As the legal proceedings continue, the
ruling to expedite the trial. The judge’s Engoron ordered the revocation of busi- former president remains embroiled
ruling includes determinations that Mr. ness certificates allowing certain enti- in multiple legal battles, including 91
Trump significantly overvalued Mar-a- ties, including the Trump Organization, felony charges across four criminal
Lago by an astonishing 2,300% in one to operate in New York. While this cases. Despite these challenges, Mr.
financial statement and that he exag- action does not dissolve Mr. Trump’s Trump is actively campaigning for a
gerated the size of his Trump Tower company, it could significantly impact potential rematch with President Joe
penthouse in New York threefold. He his control over prominent New York Biden in the upcoming election year,
notably characterized Mr. Trump’s properties like the Trump Tower and with aspirations of returning to the
argument regarding the penthouse’s the Trump Building at 40 Wall Street. White House.
